Oolithica (Geoscience) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC150420 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

Oolithica (Geoscience) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N Laker

Mr G Pazdzierski

Dr C Toland

SECRETARY:

James & George Collie LLP

REGISTERED OFFICE:

1 East Craibstone Street

Bon Accord Square

Aberdeen

Aberdeenshire

AB11 6YQ

BUSINESS ADDRESS:

Lower Ground Floor

53/57 Rodney Road

Cheltenham

Gloucestershire

GL50 1HX

REGISTERED NUMBER:

SC150420 (Scotland)

ACCOUNTANTS:

Andrew R Cook Chartered Accountants

Northfield House

Shurdington Road

Bentham

Cheltenham

Gloucestershire

GL51 4UA

FIXED ASSETS

Tangible assets

4

12,020

14,926

CURRENT ASSETS

Stocks

5

10,306

-

Debtors

6

37,506

175,101

Cash at bank

710,604

513,363

758,416

688,464

CREDITORS

Amounts falling due within one year

7

16,181

25,635

NET CURRENT ASSETS

742,235

662,829

TOTAL ASSETS LESS CURRENT LIABILITIES

754,255

677,755

PROVISIONS FOR LIABILITIES

8

1,438

2,325

NET ASSETS

752,817

675,430

CAPITAL AND RESERVES

Called up share capital

9

300

300

Retained earnings

10

752,517

675,130

SHAREHOLDERS' FUNDS

752,817

675,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 January 2019 and were signed on its behalf by:

Mr N Laker - Director

1.	STATUTORY INFORMATION

Oolithica (Geoscience) Ltd is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2017

147,232

Additions

1,152

Disposals

(4,552

)

At 30 April 2018

143,832

DEPRECIATION

At 1 May 2017

132,306

Charge for year

4,018

Eliminated on disposal

(4,512

)

At 30 April 2018

131,812

NET BOOK VALUE

At 30 April 2018

12,020

At 30 April 2017

14,926

5.

STOCKS

30.4.18

30.4.17

£

£

Work-in-progress

10,306

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

103,009

263,580

Bad debts provision

(71,560

)

(98,498

)

VAT

-

2,278

Prepayments

6,057

7,741

37,506

175,101

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

1,045

22,194

Social security and other taxes

1,493

1,381

VAT

6,067

-

Accrued expenses

7,576

2,060

16,181

25,635

8.	PROVISIONS FOR LIABILITIES

30.4.18

30.4.17

£

£

Deferred tax

1,438

2,325

Deferred

tax

£

Balance at 1 May 2017

2,325

Credit to Income Statement during year

(887

)

Balance at 30 April 2018

1,438

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

100

"A" Ordinary

£1

100

100

100

"B" Ordinary

£1

100

100

100

"C" Ordinary

£1

100

100

300

300

10.

RESERVES

Retained

earnings

£

At 1 May 2017

675,130

Profit for the year

182,387

Dividends

(105,000

)

At 30 April 2018

752,517

11.	RELATED PARTY DISCLOSURES

During the year the directors each received dividends from the company of £35,000 (2017 - £33,000).

12.	ULTIMATE CONTROLLING PARTY

The directors acknowledge that their is no ultimate controlling party as no individual holds a majority of

the company's issued share capital.